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      August 4, 2015
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Mortgage Refinance
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When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Refinance Now with Lendingtree! Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

  • Application process.  What is the process of gathering the information needed to begin the mortgage search?
  • Number of Lenders.  How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
  • Timeliness.  Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for?

TopConsumerReviews.com has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!

Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we are compensated for links and advertisements on our website. Click here for details.

2015

Mortgage Refinance Reviews

5 stars
Lending Tree

LENDING TREETopConsumerReviews.com Best-In-Class Blue Ribbon Award

In business since 1996, Lending Tree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make Lending Tree stand ahead of their competition. Read More... Visit
Site

4 stars
Quicken Loans

QUICKEN LOANS

Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans. Read More... Visit
Site

3 stars
The Easy Loan Site

THE EASY LOAN SITE

The Easy Loan Site is designed to match prospective clients with various mortgage refinance lenders. The process of searching for potential is straightforward but the website lacks all the bells and whistles that the higher ranked companies provide. Read More... Visit
Site

3 stars
Loan App

LOAN APP

In business since 1992, Loan App matches customers with up to 4 lenders to help meet their personal refinance needs. The Loan App website was missing important information about the company, the refinance process, the lender network and any associated fees. Read More... Visit
Site

2 stars
Rate Marketplace

RATE MARKETPLACE

Rate Marketplace promises to match loan refinance companies with borrowers. However, what we found was that they simply sent us on to other mortgage referral companies. We felt this was both frustrating and a waste of our time. For those seeking assistance finding a competitive refinance loan, we recommend you choose a higher rated company on our list. Read More... Visit
Site

1.5 stars
Mortgage Search 123

MORTGAGE SEARCH 123

Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure. Read More... Visit
Site

1 star
Lower My Bills

LOWER MY BILLS

Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information. Read More... Visit
Site

Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

  • Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
  • Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
  • Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
  • Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
  • Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.

 

 

 

Title Alliance Announces Manager Appointments for Preferred Closing Services
Terri Bryan and Debie Dougal join Preferred Closing Services, LLC as Managers. Both highly skilled managers are a testament to the growth of this expanding agency, a partnership between Title Alliance and RE/MAX Preferred.
Publication Date: June 24, 2015

American Consumer Credit Counseling Offers Tips on What You Need to Know Before You Refinance Your Home
As many homeowners still struggle to pay their mortgages, ACCC offers advice on how to effectively refinance.
Publication Date: July 10, 2015

We Buy Houses Miami Company Creates Program Now Available in South Florida to Stop Foreclosure
There are enormous problems with the housing market in South Florida. The Motto of LIEN Property Solutions, LLC is We Buy Houses South Florida or more specifically "We Buy Houses Miami," which is making a lot of South Florida home owners happy.
Publication Date: July 13, 2015

Trepp Research: Changing Tenant Needs Reshape the Recovering Office Market
Trepp has published a new piece of research focusing on office loans in CMBS and how their current landscape has forced borrowers and owners to adapt.
Publication Date: July 28, 2015

ADRmortgage.com Announces 10 Years of Perfect BBB Record
ADRmortgage.com celebrates 10-year perfect Better Business Bureau Record without a single complaint.
Publication Date: June 26, 2015

SECU of Maryland to Offer Rate Reset Products to Credit Union Members
Software Provider to License Innovative Technology to Marylands Largest Credit Union
Publication Date: June 16, 2015

FLDI Enhances The FirstClose Report
First Lenders Data Inc. (FLDI) has enhanced The FirstClose Report - The First Instantaneous Credit, Valuation, Flood, and Guaranteed Owners & Encumbrance Report with $500,000 of A+ VIII Rated Lien Protection Insurance.
Publication Date: June 18, 2015

Wedded to Each Other and Their Community, RE/MAX Brokers Davis and Brown Prepare for 2nd Annual South Side Expo to Strengthen Local Housing Market
RE/MAX Brokers Warren Davis and LaShawn Brown love each other and real estate. Now they are hoping to give a major boost to the housing market on Chicago's South Side through their 2nd annual South Side Expo event on July 11.
Publication Date: June 26, 2015

Scotsman Guide Hires Veteran Journalist, Bill Conroy, as Managing Editor
Adding the new position aims to bolster the editorial team and company offerings.
Publication Date: July 17, 2015

RED Closes a $36.5 Million Balance Sheet Acquisition Loan for James Square Nursing and Rehabilitation Centre
ORIX USA Subsidiary Continues Steady Growth in Balance Sheet Program
Publication Date: July 20, 2015

Jim Baker and Mike Leuthe of Atlantic Pacific Mortgage Corp Win the 2015 Five Star Mortgage Professional Award
Jim Baker and Mike Leuthe named one of Philadelphias outstanding mortgage professionals with fewer than 3% awarded.
Publication Date: June 19, 2015

New Wealth Advisors Club Marks Seven Year Anniversary of Club Inception
Despite instability in the real estate market, New Wealth Advisors Club continues to grow and expand.
Publication Date: June 30, 2015

Top Performing Capital Bank, N.A., Launches New Website
Updated digital storefront honors banks commitment to technology to meet client needs
Publication Date: June 16, 2015

DICARO & ASSOCIATES Issues 6 Tips on How to Safely Invest in Discounted Mortgage Notes, Trust Deeds, and Land Contract Installment Loans
The 6 top tips on how to safely invest in notes receivables like mortgages, trust deeds, and land contracts secured by real estate are issued by nationwide mortgage buyers DICARO & ASSOCIATES, LLC.
Publication Date: June 23, 2015

 

 

 

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